Ultra High Point Holdings, which provides IT services to hospitals in Hong Kong, raised the proposed deal size for its upcoming IPO on Wednesday.
The Hong Kong, China-based company now plans to raise $17 million by offering 3.8 million shares (33% secondary) at a price range of $4 to $5. The company had previously filed to offer 2.2 million shares (100% primary) at the same range. At the midpoint of the revised deal size, Ultra High Point Holdings will raise 70% more in proceeds than previously anticipated and command a market cap of $185 million (+3% versus previous terms).
Ultra High Point provides customized and comprehensive healthcare IT solutions and services to public and private hospitals in Hong Kong. Its range of offerings includes designing and building customized hospital information systems (HIS); developing customized Internet of Medical Things (IoMT) solutions; integrating customers' HIS with third-party systems and devices via its proprietary medical integration platform; as well as maintaining and upgrading the healthcare IT solutions it designs, builds, and installs.
Ultra High Point Holdings was founded in 2009 and plans to list on the Nasdaq under the symbol UHP. Bancroft Capital is the sole bookrunner on the deal.
